Published on 3/7/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $250,000 9.25% contingent income autocalls on Russell, Dow, Nasdaq
By Kiku Steinfeld
Chicago, March 7 – Morgan Stanley Finance LLC priced $250,000 of contingent income autocallable securities due Nov. 26, 2027 linked to the Russell 2000 index, Nasdaq-100 index and Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.25%, paid monthly, if each underlying index closes at or above its 75% coupon barrier on the related monthly observation date.
The securities will be called automatically starting Nov. 28, 2023 at par if the level of each underlying index is greater than or equal to its initial level on any quarterly call determination date.
At maturity the payout will be par unless the worst performing index closes below its 70% downside threshold level in which case investors will be fully exposed to the decline of the worst performing index.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley Finance LLC
|
Guarantor: | Morgan Stanley
|
Issue: | Contingent income autocallable securities
|
Underlying indexes: | Russell 2000 index, Nasdaq-100 index and Dow Jones industrial average
|
Amount: | $250,000
|
Maturity: | Nov. 26, 2027
|
Coupon: | 9.25%, paid monthly, if each underlying index closes at or above its 75% coupon barrier on the related monthly observation date
|
Price: | Par
|
Payout at maturity: | Par unless the worst performing index closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing index
|
Call: | Automatically starting Nov. 28, 2023 at par if the level of each underlying index is greater than or equal to its initial level on any quarterly call determination date
|
Initial levels: | 34,098.10 for Dow, 11,724.84 for Nasdaq, 1,860.441 for Russell
|
Downside thresholds: | 23,868.67 for Dow, 8,207.388 for Nasdaq, 1,302.309 for Russell, 70% of initial level
|
Coupon barriers: | 25,573.575 for Dow, 8,793.63 for Nasdaq, 1,395.331 for Russell, 75% of initial levels
|
Pricing date: | Nov. 22, 2022
|
Settlement date: | Nov. 28, 2022
|
Agent: | Morgan Stanley & Co. LLC
|
Fees: | 3.625%
|
Cusip: | 61774HZB7
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.